The IRS didn’t abuse its discretion when it decided to move forward on collecting more than $1.1 million in taxes because the taxpayers hadn’t shown why they couldn’t use their cryptocurrency to pay the tax bill, the U.S. Tax Court ruled.
Alexander Strashny and Laura Strashny had earlier proposed entering into an installment agreement with the IRS to pay the liability over a six-year period. But the agency rejected that request after the Strashnys failed to explain why they couldn’t draw on their cryptocurrency assets, which were valued at more than $7 million.
In reaching its Thursday ...
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